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Definition of Ostmark in English:

Ostmark

noun

The basic monetary unit of the former German Democratic Republic, equal to 100 pfennig.

‘There is even a hotel in the town of Zittau where guests can change their euros into Ostmarks, be ignored by hotel staff and spied upon by secret service agents.’

‘Remarkably, his countrymen, who had seen him swap valuable D-marks for worthless Ostmarks in 1990, accepted his decision with barely a murmur of dissent.’

‘In addition, the exchange rate of the Ostmark against the Deutsche Mark underwent substantial revaluation with the currency reform which converted Ostmarks into DM at 1:1 with large holdings being exchanged at 2:1.’

‘Problems were made worse when the German currency union took effect, following the decision to convert East German Ostmarks at an artificially high rate into Deutschmarks.’

‘Like nearly all former East Germans, he is unsentimental about the Ostmark.’